St. James Gold Corp. announced that its Operator at the Florin Gold Project has assisted in securing and paying deposits to an established drill contractor to complete 7,000 meters and up to 8,500 meters of HQ-NQ2-NQ diameter diamond drilling with the option to add a second drill to expand the program to in excess of 12,000 meters for the 2022 drill season, at its district-scale, 89 square-kilometer Florin Gold Project (the Florin Gold Project) located in the prolific Tombstone gold belt of the Yukon Territory, Canada.

Drilling at the Florin Gold Project this season is expected to be focused on expansion drilling adjacent to the existing inferred resource which currently contains an inferred mineral resource of 2,474,000 ounces of gold in 170,993,000 tonnes grading 0.45 g/t gold, with a cut-off grade of 0.3 g/t gold at a gold price of 41,650 per ounce. Prior drill programs at the Florin Gold Project have returned gold mineralization from surface to depth with intercepts and grades comparable to similar intrusion-related gold deposits in the region, including Victoria Gold's Eagle and Olive gold deposits. The current resource area spans approximately 900 meters on strike along the NW, “Jethro” fault which, through multiple exploration programs, has now been traced for a distance in excess of five kilometers.

In addition to expansion drilling to test for potential mineral on adjacent to the existing inferred resource area, the Company intends to test other encouraging geochemistry targets, in particular: those in and around the Treadwell adits immediately to the east of the inferred resource area which have returned high grade rock grab samples containing up to 15.85 g/t Au; and an area of possible clay alteration supported by nearby gold in soil anomalies approximately two kilometers west northwest on strike within the Jethro fault that has been traced for in excess of 5 km. Grab samples are selective by nature and may not be representative of actual grades of styles of mineralization across the Florin Gold Project.